F1: Ferrari (NYSE:RACE), Free Practice Report, Toscana-Ferrari 1000 Grand Prix

F1: Ferrari (NYSE:RACE), Free Practice Report, Toscana-Ferrari 1000 Grand Prix

#Ferrari #F1 #Tuscan #GrandPrix #Mugello

$RACE

Free Practice Report: Mugello, 12 September 2020

Friday morning, shortly after 11 local time, the 2 SF1000s took to the track in their special Burgundy livery, the deep red originally seen on the 125 S, the very 1st Ferrari (NYSE:RACE) ever built, to complete their installation lap to kick off the Maranello Outfit’s 1000th Grand Prix in F1.

At this historic moment, fans in the grandstand applauded as Charles Leclerc and Sebastian Vettel drove out of the garage. It was a symbolic moment, combining the legend and tradition of The Scuderia with the much awaited presence of fans in the grandstands for the 1st time this season, their absence down to the current medical emergence chaos. 

2 GPs. Ferrari has owned the Mugello circuit since Y 1988, so this was very much a home race for the team, whose 2 SF1000s completed a total of 120 laps of the 5.245 kilometre long track, almost the equivalent of 2 race distances in Sunday’s Toscana-Ferrari 1000 Grand Prix. The team worked through its usual programme, focused on fine tuning the car and evaluating the tyres, Pirelli having supplied their three hardest compounds for this weekend.

FP1. Charles and Seb did 27 laps each, while working on different programmes at first. For the 1st 40 mins Mr. Leclerc ran Medium tires and Mr. Vettel ran Hards. Mr. Leclerc set a time of 1’19”468 and his team-mate posted a 1’21”333. Work then switched to qualifying mode running Softs on which Mr. Leclerc did a 1’18”186, 3rd fastest in the session and Mr. Vettel was 13th with a 1’19”267. 

FP2. The afternoon session was Red flagged 2X: the 1st after Lando Norris went off in the McLaren and the 2nd after Sergio Perez and Kimi Raikkonen collided at Turn 1. The stops affected The Scuderia’s program as its drivers only managed one qualifying-type lap with Mr. Leclerc doing a 1’18”400, which was slower than his morning time and Mr. Vettel a 1’18”498. The drivers had switched programs with Mr Leclerc this time starting on the Hards and Mr. Vettel evaluating the Mediums. Towards the end, both drivers ran in race configuration with various tire compounds and fuel loads. On his last lap, Mr. Vettel’s car stopped at the side of the track because of an electrical fault, it has been fixed.

Program. The cars are back on track Saturday at 12N for the final hour of practice prior to qualifying, which starts at 3:00p.

The Toscana-Ferrari 1000 Grand Prix will start at 3.10p on Sunday, 13 September.

Charles Leclerc #16

Driving an F1 car around this circuit is unbelievable. In all the fast sections it’s pretty impressive. I think it is going to be quite a tough race, physically, as already in the long run we have done in FP2 the neck starts to feel it! The lack of run-off areas will also make it difficult, but I guess this is what we like as well. The 1st session went well but maybe where we ended up in the 2nd 1 is a more realistic picture, when we struggled a bit on the hard tire.

We also need to work on the balance, as we are not really there yet. It’s all very close but I think we can make a positive step tomorrow. I am optimistic.

Sebastian Vettel #5

It was an interesting day. Mugello is a very nice track which is very enjoyable for the driver, even if it is quite brutal on tyres. I’m still not happy with the balance of the car.

We are working on it and there is still plenty to do, but it is Friday, and this is what Fridays are for. I think that there’s the potential to find a better set-up on the car and that we will find some small things. I’m confident we can improve it for qualifying.

Ferrari is The Aristocrat of the automotive sector.

Enzo Ferrari’s iconic Italian Supercar manufacturer claimed the title according to the latest Brand Finance Global 500 2019 report launched at the World Economic Forum in Davos

HeffX-LTN overall technical outlook for RACE is overall Very Bullish, the Key resistance is 193.50, Key support is at 176.88.

Our overall technical outlook is still Bullish with a Very Bullish bias in here, my Key indicator is Very Bullish, the stock is very oversold.

Ferrari finished Thursday at 187.86 in NY it’s all time high was marked at 199.97 marked intraday Wednesday, 26 August.

The stock is trading Friday intraday at 191.78, +3.92.

The Maranello Outfit’s shares were raised to Buy from Hold at HSBC.

Ferrari will continue to create value the long term as it becomes the world’s 1st Super Luxury brand.

Ferrari is a quality 1st long term luxury products investment, and I called it at it at 200+/share ATV (after the virus) and sided with BAML to 230 long term, then…

Thursday, 13 August I raised my long term target to 300, a Strong Bull call.

Ferrari has an average rating of “Buy” and an average target price at 194.33.

The Maranello Outfit’s shares were raised to Buy from Hold at HSBC.

Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term luxury products investment, and I have called it at it at 200+/share long term, adjusting it to 200/share short term ATV and siding with BAML to 230 long term for now.

The stock is now considered defensive in the sector.

Have a healthy weekend, enjoy the racing!

 

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Paul Ebeling

Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he it the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.